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Business transactions completed by Melanie Duerr during the month of September are as follows. Using the following transactions, record journal entries, create financial statements,
Business transactions completed by Melanie Duerr during the month of September are as follows. Using the following transactions, record journal entries, create financial statements, and assess the Impact of each transaction on the financial statements. Sep. Sep. Sep. Sep. 1 Duerr invested $135,000 cash along with office equipment valued at $27,500 in exchange for common stock of a new company named MD Consulting. 3 The company purchased land valued at $42,000 and a building valued at $162,500. The purchase is paid with $32,500 cash and a long-term note payable for $172,000. 5 The company purchased $4,500 of office supplies on credit. 7 Duerr invested her personal automobile in the company in exchange for more common stock. The automobile has a value of $21,500 and is to be used exclusively in the business. Sep. 9 The company purchased $9,500 of additional office equipment on credit. Sep. 11 The company paid $2,400 cash salary to an assistant. Sep. 13 The company provided services to a client and collected $6,400 cash. Sep. 15 The company paid $800 cash for this month's utilities. Sep. 17 The company paid $4,500 cash to settle the account payable created on September 5. Sep. 19 The company purchased $20,400 of new office equipment by paying $20,400 cash. Sep. 21 The company completed $6,400 of services for a client, who must pay within 30 days. Sep. 23 The company paid $2,400 cash salary to an assistant. Sep. 25 The company received $4,000 cash in partial payment on the receivable created on September 21. Sep. 27 The company paid $2,900 cash in dividends. Requirement General Journal General Ledger Trial Balance Income Statement St Retained Earnings Balance Sheet Impact on Equity
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